Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Reata Pharmaceuticals (RETA) today and set a price target of $100. The company’s shares opened today at $61.03.
Duncan commented:
“. We reiterate our Overweight rating and $100 PT on RETA. Today BMO, Reata reported 3Q18 collaboration revenues of $5.2M, total expenses of $34.7M & cash of $375.2M. Our model projects current cash to fund operations through 2020 including pivotal data for Alport’s (baroxlone, Friedrech’s ataxia (omaveloxolone, FA). Questions on the earnings call centered on clinical trial design and progress, measures of efficacy in various programs, how the company is thinking about prioritizing indications, and future commercialization plans.”
According to TipRanks.com, Duncan is a 2-star analyst with an average return of 0.5% and a 44.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Reata Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $120.20.
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The company has a one-year high of $99.50 and a one-year low of $19.31. Currently, Reata Pharmaceuticals has an average volume of 292.8K.
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Reata Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in identifying, developing, and commercializing pharmaceutical products. Its lead product candidates are bardoxolone methyl and omaveloxolone, which activate the transcription factor Nrf2 to restore mitochondrial function, reduce oxidative stress, and resolve inflammation. The company was founded by J. Warren Huff on September 1, 2002 and is headquartered in Irving, TX.
